Zambia owned electricity distribution company, Northwestern Energy has signed a financing agreement with Zambia National Commercial Bank that will see the company expand on its electricity distribution network in the North-Western Province. “On 19th November 2020, Zambia National Commercial Bank (Zanaco) Plc and North Western Energy Corporation signed a power deal for expansion and continued [&h
Successful financing of developmental project such as hydro-power plants requires the willingness to invest and dream to grow the sector for the future. Developing both social and economic infrastructure improves not only the quality of people’s lives; it also opens up the country to the outside world, and allows trade and commerce to flourish. Zambia’s […]
Whilst many challenges exist within Zambia’s power sector, including the well-documented shortages, outages and off-taker issues, recent changes may usher in a new era. Although Zambia’s power sector is liberalised, with private sector participants playing an important role in generating power, ZESCO Limited (ZESCO), a vertically integrated electricity utility, has historically dominated the Z
Minister of Mines and Minerals Development highlights the importance of coal and coal-based electricity to national economy and the country’s energy diversification mix Minister of Mines and Minerals Development Hon. Richard Musukwa, MP this weekend officially inaugurated Maamba Collieries Ltd.’s (MCL) most recent acquisition, the state-of-the-art, high technology Surface Miner. Maamba Collier
There are industries that seeing benefits in the deterioration of the kwacha against the dollar. These are industries that see exchange gains adding steroids to the bottom line. Oil marketing is one of them thanks to the cost pass-through mechanisms that are in place through the regulator, ERB. Puma recently published their half-year results for […]
Quoted company on the Lusaka Securities and Exchange, CEC Africa, has announced that a mandatory offer has been made by BP Investments Limited for purchase minority shareholders stake in the company that has operations in Nigeria. “Shareholders of CEC Africa Investments Limited will be aware that on 17 June 2020, BP Investments Limited purchased shares […]
Embattled energy company, CEC PLC, has indicated to shareholders that it expects its earnings per share to be lower at half-year of the current financial year due to debts owed by a former mining customer. “In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of […]
The letter of demand that was issued to CEC Africa has been withdrawn following an agreement being reached with Zambia Energy Corporation, according to a statement from CEC Africa. “Shareholders of the Company are referred to the Cautionary Announcement first issued on 17 July 2020 in which Shareholders and the market were advised that the […]
CEC Africa has been served a letter of demand from Zambia Energy Corporation Limited of K15.40 million, according to a statement from the Company. “CECA shares are traded on the second-tier market (referred to as the Quoted Tier) of the Lusaka Securities Exchange (“LuSE”). In compliance with the disclosure requirements under the Act, CECA hereby […]
Barely a fortnight after publishing its 2019-year end financial results which signaled the erosion of value due to impairments caused by its biggest mining customer, Copperbelt Energy Plc (CEC) has announced the end and non-renewal of its power supply contract with Konkola Copper Mine (KCM). “In accordance with Section 11.40 of the Lusaka Securities Exchange […]
Energy
